The deal struck between Prime Minister Binyamin Netanyahu and opposition leader Shaul Mofaz to form a unity government is a "covenant of cowards," Labor Party leader Shelly Yacimovich charged early Tuesday morning.

"It is a covenant of cowards between Netanyahu and Mofaz," she said, adding that "this is the most ridiculous, disgusting zigzag in Israeli political history."

"We have been given a rare and important opportunity to head the opposition, and we will do so with energy and with faith," the Labor head declared.